HBS Fuels Limited (06796055): administration
- Status
- Administration ended
- Administration began
- 2012-05-16
- Administrators
- James Richard Tickell, Carl Derek Faulds
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2009-01-20
- Location
- London
- Industry
- 46719 Wholesale of other fuels and related products
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Credit insurance / supplier credit withdrawn
From the administrators' statement
The company operates a heating oil and liquid petroleum gas storage and distribution business from premises near Stockbridge, Hampshire There are also ancillary boiler installation and maintenance sales Further details of the product range are given at the company’s website at www hbsfuels co uk Customers comprise local residents and businesses There are 12 employees
HBS Fuels was started by Mr Barry Childs in 1990 as an unincorporated business Mr Childs purchased the freehold premises, built a storage and distribution facility and developed a customer base Funding was originally provided by a personal loan and overdraft from Lloyds TSB Bank A lease was subsequently granted to Wessex Petroleum in 2003 for occupation of part of the site
In January 2009, with the scale of business increasing, Mr Childs decided to incorporate HBS Fuels Limited to take over the business, tangible assets, stock, debtors and creditors The assets were transferred at existing net book value along with goodwill of £50k The consideration was Jeft unpaid as a loan due from the company to Mr Childs The property was not transferred to the company, which was instead granted a 15 year lease
Administrators' statement of proposals (2012-07-10) · Companies House register